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Aion-Tech Solutions Appoints Chanakya Bellam Radha Krishna as Whole-time Director for 3 Years
Aion-Tech Solutions Limited has confirmed the appointment of Mr. Chanakya Bellam Radha Krishna as a Whole-time Director, effective May 1, 2026. The appointment follows shareholder approval via postal ballot and is set for a three-year tenure ending April 30, 2029. Mr. Krishna brings over 20 years of experience in corporate strategy and business development, having previously served as President of Strategy at the parent company, Trinity Infraventures. This leadership move is intended to strengthen the company's strategic growth and operational excellence.
Key Highlights
Appointment of Mr. Chanakya Bellam Radha Krishna as Whole-time Director for a 3-year term starting May 1, 2026.
The appointee possesses over 20 years of cross-functional experience in corporate strategy, fundraising, and business development.
He transitions from his current role as President of Strategy & Corporate Development at parent company Trinity Infraventures Limited.
The appointment was finalized following a Scrutinizer’s report dated May 04, 2026, regarding a Postal Ballot resolution.
The director holds nil shares in Aion-Tech Solutions Limited as of the appointment date.
💼 Action for Investors
Investors should monitor if this leadership change leads to improved strategic execution or new business partnerships in the technology sector. No immediate portfolio action is required based on this routine management update.
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Aion-Tech Solutions Appoints Chanakya Bellam Radha Krishna as Whole-time Director
Aion-Tech Solutions Limited has announced a leadership transition where Mr. Chanakya Bellam Radha Krishna will be re-designated as a Whole-time Director for a 3-year term starting May 1, 2026. This appointment follows the resignation of Mr. Seetepalli Venkat Raghunand, who will step down as Executive Director on April 24, 2026, after serving the organization for 13 years. Mr. Krishna brings over 20 years of experience in corporate strategy and fundraising from his current role at the parent company, Trinity Infraventures Limited. The change is subject to shareholder approval and is intended to drive the company's long-term growth initiatives.
Key Highlights
Mr. Chanakya Bellam Radha Krishna appointed as Whole-time Director for a 3-year term starting May 1, 2026.
Executive Director Mr. Seetepalli Venkat Raghunand resigns effective April 24, 2026, after a 13-year tenure.
New appointee has over 20 years of cross-functional experience in strategy, marketing, and business development.
The transition involves moving leadership from the parent company, Trinity Infraventures Limited, to the subsidiary.
The board meeting approving these changes was held on March 25, 2026.
💼 Action for Investors
Investors should monitor whether the new leadership can accelerate the company's growth strategy, given his background in fundraising and corporate development. No immediate portfolio action is required as this appears to be a structured management transition.
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Aion-Tech Solutions Announces Management Shuffle: New WTD Appointed, Executive Director Resigns
Aion-Tech Solutions Limited (formerly Goldstone Technologies) has announced a leadership transition following its board meeting on March 25, 2026. Mr. Chanakya Bellam Radha Krishna, who possesses over 20 years of experience in corporate strategy and fundraising, has been appointed as a Whole-time Director for a three-year term starting May 1, 2026. Concurrently, Mr. Seetepalli Venkat Raghunand is resigning from his position as Executive Director effective April 24, 2026, after serving the organization for 13 years. These changes represent a strategic shift in the company's top-level management and governance structure.
Key Highlights
Mr. Chanakya Bellam Radha Krishna appointed as Whole-time Director for a 3-year term effective May 01, 2026.
Mr. Seetepalli Venkat Raghunand resigns as Executive Director effective April 24, 2026, after 13 years with the company.
Incoming Director Chanakya brings 20+ years of experience in strategy, marketing, and fundraising from the parent company, Trinity Infraventures.
The new appointment is subject to shareholder approval as per regulatory requirements.
💼 Action for Investors
Investors should monitor the transition to see if the new leadership's expertise in fundraising and strategy translates into improved financial performance. The departure of a long-term director (13 years) is a significant change, but the incoming director's familiarity with the parent company may ensure continuity.
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Aion-Tech Solutions Appoints Biju Mathews as CEO; Dr. Karthik Ponnapula Joins Board
Aion-Tech Solutions Limited has announced a leadership transition with the appointment of Mr. Biju Mathews as President and Chief Executive Officer for a two-year term effective March 16, 2026. The company also appointed Dr. Karthik Sanjay Ponnapula and Mr. Chanakya Bellam Radha Krishna as Non-Executive and Non-Independent Directors. Dr. Karthik Sanjay Ponnapula brings significant skin in the game, holding 11,22,000 equity shares in the company. These strategic appointments follow a postal ballot resolution and are aimed at driving growth in technology and analytics sectors.
Key Highlights
Mr. Biju Mathews appointed as President and CEO for a 2-year term starting March 16, 2026
Dr. Karthik Sanjay Ponnapula appointed as Non-Executive Director, holding 11,22,000 equity shares
Mr. Chanakya Bellam Radha Krishna joins the board with over 20 years of experience in strategy and fundraising
Appointments were approved by shareholders via Postal Ballot as per the Scrutinizer’s report dated March 17, 2026
💼 Action for Investors
Investors should monitor the company's execution strategy under the new CEO, Biju Mathews, particularly his focus on digital transformation and operational scale. The significant shareholding by a new director is a positive signal of internal confidence.
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Aion-Tech Solutions Appoints Biju Mathews as CEO and Strengthens Board
Aion-Tech Solutions Limited (formerly Goldstone Technologies) has appointed Mr. Biju Mathews as President and CEO for a two-year term effective March 16, 2026. The company also inducted Dr. Karthik Sanjay Ponnapula and Mr. Chanakya Bellam Radha Krishna as Non-Executive Directors following shareholder approval via postal ballot. Dr. Ponnapula, a key player in the EV industry, holds a significant stake of 11,22,000 equity shares in the company. These leadership changes are aimed at driving digital transformation and scaling the company's technology and analytics business.
Key Highlights
Mr. Biju Mathews appointed as President and CEO for a 2-year term starting March 16, 2026
Dr. Karthik Sanjay Ponnapula appointed as Non-Executive Director, holding 11,22,000 equity shares
Mr. Chanakya Bellam Radha Krishna joins as Non-Executive Director with over 20 years of experience
Appointments were confirmed through a postal ballot scrutinizer report dated March 17, 2026
💼 Action for Investors
Investors should monitor the company's execution under the new CEO, particularly in the technology and analytics segments. The significant equity stake held by the new director, Dr. Ponnapula, indicates strong insider confidence.
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Aion-Tech Solutions Appoints Biju Mathews as CEO and Two New Directors
Aion-Tech Solutions Limited, formerly Goldstone Technologies, has announced a major leadership overhaul following a postal ballot. Mr. Biju Mathews has been appointed as the President and Chief Executive Officer for a two-year term starting March 16, 2026. Additionally, the company appointed Dr. Karthik Sanjay Ponnapula and Mr. Chanakya Bellam Radha Krishna as Non-Executive Directors. Dr. Ponnapula notably holds 11,22,000 equity shares in the company, signaling significant skin in the game.
Key Highlights
Mr. Biju Mathews appointed as President and CEO for a 2-year term effective March 16, 2026
Dr. Karthik Sanjay Ponnapula appointed as Non-Executive Director, holding 11,22,000 equity shares
Mr. Chanakya Bellam Radha Krishna appointed as Non-Executive Director, bringing 20+ years of experience
Appointments were approved by shareholders via Postal Ballot as per the Scrutinizer’s report dated March 17, 2026
💼 Action for Investors
Investors should monitor the company's performance under the new CEO, Biju Mathews, to see if his experience in scaling technology businesses translates into improved financial metrics. The significant shareholding of the new director Dr. Ponnapula is a positive sign of promoter/insider confidence.
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Aion-Tech Shareholders Approve Biju Mathews as CEO and New Board Appointments
Aion-Tech Solutions Limited (formerly Goldstone Technologies) has received shareholder approval for key leadership changes via a postal ballot. Mr. Biju Mathews has been officially appointed as the President and Chief Executive Officer with nearly 100% of the votes cast in favor. Additionally, Dr. Karthik Sanjay Ponnapula and Mr. Chanakya Bellam Radha Krishna were appointed as Non-Executive Non-Independent Directors. The resolutions saw a total turnout of approximately 59-61% of the total share capital, reflecting strong support for the new management structure.
Key Highlights
Appointment of Mr. Biju Mathews as President and CEO approved with 31,975,829 votes in favor (100% of valid votes cast).
Shareholder turnout for the CEO appointment resolution stood at 61.18% of the total 52,261,836 outstanding shares.
Dr. Karthik Sanjay Ponnapula and Mr. Chanakya Bellam Radha Krishna appointed as Non-Executive Non-Independent Directors.
All resolutions passed with near-unanimous support, with only 563 votes cast against each proposal.
The voting process was conducted via remote e-voting from February 15 to March 16, 2026.
💼 Action for Investors
Investors should monitor the company's strategic execution under the newly formalized leadership of CEO Biju Mathews. The near-unanimous shareholder support provides a strong mandate for the management to pursue its growth objectives following the company's rebranding.
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Aion-Tech Solutions Appoints Biju Mathews as CEO; Shareholders Approve New Board Members
Aion-Tech Solutions Limited (formerly Goldstone Technologies) has announced the successful passing of three key management resolutions via postal ballot. Shareholders overwhelmingly approved the appointment of Mr. Biju Mathews as the President and Chief Executive Officer with nearly 100% of the votes in favor. Additionally, Dr. Karthik Sanjay Ponnapula and Mr. Chanakya Bellam Radha Krishna were appointed as Non-Executive and Non-Independent Directors. The voting process, which concluded on March 16, 2026, saw participation from over 31.9 million shares for the CEO appointment, representing approximately 61.18% of the total share capital.
Key Highlights
Mr. Biju Mathews appointed as President and CEO with 31,975,829 votes in favor (approx 100%)
Dr. Karthik Sanjay Ponnapula appointed as Non-Executive Director with 30,853,829 votes in favor
Mr. Chanakya Bellam Radha Krishna appointed as Non-Executive Director with 31,975,829 votes in favor
Total shareholder participation for the CEO resolution represented 61.18% of the total 52,261,836 shares
💼 Action for Investors
Investors should monitor the strategic changes and performance metrics under the new CEO, Biju Mathews, to assess the company's growth trajectory following its rebranding. The strong shareholder support indicates high confidence in the new leadership team.
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Aion-Tech Solutions Invests Rs 1.3 Crore in EV Mobility Subsidiary ROQIT
Aion-Tech Solutions has infused an additional Rs 1.3 crore into its wholly-owned subsidiary, ROQIT Greenfleet Digital Solutions, bringing its total investment in the unit to Rs 9.8 crore. ROQIT is a specialized platform company focusing on modular technology for zero-emission fleets in the EV and Hydrogen mobility sectors. Although the subsidiary is currently in a pre-revenue stage, it has successfully completed pilot programs and Proof-of-Concept (PoC) engagements. The fresh capital will be utilized to fund operational expenses and accelerate the development of its fleet management modules.
Key Highlights
Further equity investment of Rs 1.3 crore in wholly-owned subsidiary ROQIT Greenfleet.
Total cumulative investment in the subsidiary now stands at Rs 9.80 crore.
ROQIT focuses on modular architecture for EV and Hydrogen mobility fleet management.
Subsidiary is currently in the pre-revenue stage, focusing on commercializing successful PoCs.
Investment made at face value of Rs 10 per share via a rights issue.
💼 Action for Investors
Investors should monitor the commercialization timeline of ROQIT's PoCs as it enters the high-growth EV mobility tech space. Watch for future revenue updates from this subsidiary to assess the return on these capital infusions.
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AION-TECH Appoints Biju Mathews as CEO with ₹90 Lakh Annual Remuneration
AION-TECH Solutions Limited (formerly Goldstone Technologies) has issued a postal ballot notice to seek shareholder approval for key leadership appointments. The primary resolution involves appointing Mr. Biju Mathews as President and CEO for a two-year term with an annual remuneration of ₹90 lakhs. Additionally, the company seeks to appoint Dr. Karthik Sanjay Ponnapula and Mr. Chanakya Bellam Radha Krishna as Non-Executive Non-Independent Directors. Shareholders can cast their votes via e-voting between February 15 and March 16, 2026, with final results expected by March 18, 2026.
Key Highlights
Appointment of Mr. Biju Mathews as President & CEO for a 2-year tenure effective February 11, 2026
Proposed annual remuneration for the new CEO is set at ₹90,00,000 (INR 90 Lakhs)
Appointment of two Non-Executive Non-Independent Directors to strengthen the board structure
Remote e-voting period scheduled from February 15, 2026, to March 16, 2026
Results of the postal ballot to be declared on or before March 18, 2026
💼 Action for Investors
Investors should monitor the official confirmation of these appointments on March 18, 2026, as the new leadership will be responsible for executing the company's growth strategy.
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Aion-Tech Q3 PAT Surges to ₹20M; Appoints New CEO & Approves ₹8Cr Subsidiary Investments
Aion-Tech Solutions reported a significant turnaround in Q3 FY26 with a standalone PAT of ₹20.03 million, compared to a loss of ₹0.2 million in the same quarter last year. The company announced the appointment of Biju Mathews as the new CEO and approved fresh investments totaling ₹8 crore into its digital solutions and Dubai-based subsidiaries. Additionally, the board approved a corporate guarantee for its subsidiary ETO Motors, which saw a slight dilution in the company's stake to 56.29% following an ICD conversion. Revenue from operations grew to ₹291.24 million, driven largely by software license resale.
Key Highlights
Standalone Revenue grew to ₹291.24 million in Q3 FY26 from ₹225.6 million YoY.
Net Profit (PAT) turned positive at ₹20.03 million versus a loss of ₹0.2 million in Q3 FY25.
Approved ₹5 crore investment in Rogit Greenfleet and ₹3 crore in Dubai-based GTL Aion IT Solutions.
Appointed Biju Mathews as President and CEO effective February 11, 2026.
Stake in ETO Motors Private Limited adjusted to 56.29% following conversion of 7,32,608 shares.
💼 Action for Investors
Investors should monitor the execution of the new CEO's strategy and the scaling of the Dubai operations. The sharp recovery in profitability and continued investment in subsidiaries suggest a strong growth phase.
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Aion-Tech Q3 PAT Surges to ₹20M; Appoints New CEO and Approves ₹8Cr Subsidiary Investments
Aion-Tech Solutions reported a significant turnaround in its Q3 FY26 standalone results, with net profit jumping to ₹20.03 million from a near-break-even ₹0.02 million in the previous year's quarter. The company has appointed Biju Mathews as the new President and CEO to lead its strategic initiatives. Furthermore, the board approved a combined investment of ₹8 crore into its Indian and Dubai-based subsidiaries to fuel expansion. The company also extended a corporate guarantee for its subsidiary, ETO Motors, to support its debt requirements.
Key Highlights
Standalone Revenue from Operations increased to ₹291.24 million in Q3 FY26, up from ₹221.56 million YoY.
Net Profit (PAT) saw a massive surge to ₹20.03 million compared to ₹0.02 million in Q3 FY25.
Approved investment of ₹5 crore in Rogit Greenfleet Digital Solutions and ₹3 crore in Dubai-based GTL Aion IT Solutions.
Biju Mathews appointed as President and CEO effective February 11, 2026.
Software License Resale segment contributed the bulk of revenue at ₹261.55 million for the quarter.
💼 Action for Investors
The strong earnings recovery and leadership change are positive catalysts; investors should monitor the impact of new investments on future margins. Keep a watch on the performance of ETO Motors as the company has provided a corporate guarantee for its loans.
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Aion-Tech Q3 PAT Jumps to ₹25M; Approves ₹8Cr Subsidiary Investments & New CEO Appointment
Aion-Tech Solutions reported a strong performance for Q3 FY26, with Revenue from Operations reaching ₹291.24 million, a 31% increase compared to ₹221.56 million in the same quarter last year. The company achieved a Net Profit (PAT) of ₹25.03 million, marking a significant turnaround from a loss of ₹0.21 million in Q3 FY25. The Board approved fresh investments totaling ₹8 crore into its Indian and Dubai subsidiaries to support expansion. Additionally, the company strengthened its leadership by appointing Biju Mathews as the new President and CEO.
Key Highlights
Revenue from operations grew to ₹291.24 million in Q3 FY26 from ₹221.56 million in Q3 FY25.
Net Profit (PAT) stood at ₹25.03 million versus a loss of ₹0.21 million in the year-ago period.
Approved ₹5 crore investment in Roqit Greenfleet and ₹3 crore in Dubai-based GTL Aion IT Solutions.
Appointed Biju Mathews as President and CEO and Dr. Karthik Sanjay Ponnapula as Additional Director.
Provided a corporate guarantee for a loan from ICICI Bank for subsidiary ETO Motors Private Limited.
💼 Action for Investors
The company's return to profitability and aggressive investment in subsidiaries signal a growth phase; investors should monitor the impact of the new CEO's leadership on long-term scaling.
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Aion-Tech Q3 PAT Surges to ₹20.8M; CEO Appointed & ₹8Cr Subsidiary Investments Approved
Aion-Tech Solutions Limited reported a robust Q3 FY26 performance with a net profit of ₹20.83 million, a significant turnaround from ₹2.02 million in the same quarter last year. Revenue from operations rose to ₹291.24 million, primarily driven by software license resale which contributed ₹261.55 million. The company is aggressively expanding, approving ₹8 crore in total investments for its Indian and Dubai subsidiaries. Additionally, the board has strengthened leadership by appointing Biju Mathews as the new President and CEO.
Key Highlights
Net Profit (PAT) surged to ₹20.83 million in Q3 FY26 from ₹2.02 million YoY.
Revenue from operations grew to ₹291.24 million, up from ₹225.61 million in the previous year's quarter.
Approved ₹5 crore investment in Rogit Greenfleet and ₹3 crore in Dubai-based GTL Aion IT Solutions.
Appointed Biju Mathews as President and CEO and Dr. Karthik Sanjay Ponnapula as Non-Executive Director.
Recognized an exceptional item of ₹4.28 million related to the statutory impact of new Labour Codes.
💼 Action for Investors
Investors should monitor the company's transition under the new CEO and the performance of its subsidiaries, particularly in the EV and digital solutions space. The significant YoY profit growth is a positive signal for recovery and growth potential.
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Aion-Tech Solutions Appoints Biju Mathews as CEO; Q3 Profit Rises to ₹20.03 Million
Aion-Tech Solutions reported a standalone net profit of ₹20.03 million for Q3 FY26, a significant turnaround from a loss of ₹0.82 million in the same period last year. The company has appointed Mr. Biju Mathews as President and CEO to lead its strategic initiatives. Furthermore, the board approved investments totaling ₹8 crore into its Indian and Dubai-based subsidiaries to fuel expansion. The company also increased its stake in ETO Motors Private Limited to 56.29% through the conversion of inter-corporate deposits.
Key Highlights
Standalone Revenue from Operations grew to ₹291.24 million in Q3 FY26 from ₹212.56 million YoY.
Net Profit (PAT) reached ₹20.03 million for the quarter, recovering from a loss of ₹0.82 million in Q3 FY25.
Approved ₹5 crore investment in Rogit Greenfleet Digital Solutions and ₹3 crore in Dubai-based GTL Aion IT Solutions LLC.
Mr. Biju Mathews appointed as President and CEO effective February 11, 2026.
Equity holding in subsidiary ETO Motors Private Limited increased to 1,97,68,354 shares via ICD conversion.
💼 Action for Investors
Investors should view the return to profitability and the appointment of a new CEO as positive catalysts for growth. Monitor the performance of the newly funded subsidiaries and the impact of the corporate guarantee provided to ETO Motors.
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Aion-Tech Solutions Q3 PAT Surges to ₹20M; Appoints New CEO and Approves ₹8Cr Subsidiary Investment
Aion-Tech Solutions reported a strong financial performance for Q3 FY26, with Profit After Tax (PAT) reaching ₹20.03 million, a significant jump from ₹0.21 million in the same quarter last year. The company has appointed Biju Mathews as the new President and CEO to lead its strategic initiatives. Additionally, the board approved a total investment of ₹8 crore into its domestic and Dubai-based subsidiaries to fuel expansion. The company also provided a corporate guarantee for its subsidiary, ETO Motors, to secure bank financing, indicating active support for its EV-related ventures.
Key Highlights
Revenue from operations increased to ₹291.24 million in Q3 FY26, up from ₹200.27 million in the previous quarter.
Net Profit (PAT) rose sharply to ₹20.03 million compared to ₹2.09 million in Q2 FY26.
Approved ₹5 crore investment in Rogit Greenfleet Digital Solutions and ₹3 crore in GTL Aion IT Solutions LLC (Dubai).
Mr. Biju Mathews appointed as President and CEO effective February 11, 2026.
Recognized an exceptional item of ₹4.28 million as a statutory impact of new Labour Codes.
💼 Action for Investors
Investors should view the sharp turnaround in profitability and the appointment of a new CEO as positive catalysts. Monitor the performance of the ETO Motors subsidiary and the utilization of the new ₹8 crore capital infusion in digital and IT subsidiaries.
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Aion-Tech Solutions Q3 PAT Surges to ₹20M; Appoints New CEO & Approves ₹8Cr Subsidiary Investment
Aion-Tech Solutions (formerly Goldstone Technologies) reported a strong Q3 FY26 with standalone PAT reaching ₹20.03 million, a massive jump from ₹0.21 million in the year-ago period. The company has appointed Mr. Biju Mathews as the new President and CEO to drive leadership. Furthermore, the board approved fresh capital infusions of ₹5 crore into Rogit Greenfleet and ₹3 crore into its Dubai subsidiary, GTL Aion IT Solutions, signaling aggressive expansion. The company also extended a corporate guarantee for its subsidiary ETO Motors, despite a slight dilution in its shareholding from 58.51% to 56.29%.
Key Highlights
Standalone Revenue from Operations rose to ₹291.24 million in Q3 FY26 from ₹225.68 million YoY.
Standalone Profit After Tax (PAT) stood at ₹20.03 million compared to ₹0.21 million in Q3 FY25.
Approved ₹8 crore total investment in Indian and Dubai-based subsidiaries for digital and IT solutions.
Appointed Biju Mathews as President and CEO and Dr. Karthik Sanjay Ponnapula as Additional Director.
Recognized an exceptional item of ₹4.28 million related to the statutory impact of new Labour Codes.
💼 Action for Investors
Investors should view the sharp turnaround in profitability and the appointment of a new CEO as positive catalysts for the stock. Monitor the performance of the ETO Motors subsidiary and the utilization of the newly approved ₹8 crore investment for future growth.
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AION-Tech Partners with Theoremus AD for Urban Mobility Pilots in Telangana and Karnataka
AION-Tech Solutions (GOLDTECH) has signed a Memorandum of Understanding (MoU) with Bulgarian firm Theoremus AD to develop AI-led multimodal urban mobility solutions in India. The partnership will launch First-Middle-Last Mile (FMLM) pilots in Telangana and Karnataka, integrating EV fleets with real-time data orchestration. Execution will be driven by AION-Tech's subsidiaries, ETO Motors for EV deployment and ROQIT for digital platforms. This strategic move targets high-growth segments like Smart Cities and sustainable transport, aiming for future contracts with major state transport and metro agencies.
Key Highlights
Strategic MoU signed with Theoremus AD for AI-driven multimodal transport orchestration in India.
Initial FMLM pilots to be launched in Telangana and Karnataka focusing on EV feeder services for metro and bus corridors.
Execution anchored through subsidiaries ETO Motors (EV fleets) and ROQIT (digital dashboards and AI tools).
Targeting future scale-up with major agencies including TSRTC, HMRL, BMTC, and BMRCL.
Platform features include demand forecasting, EV utilization optimization, and real-time congestion management.
💼 Action for Investors
Investors should monitor the successful completion of the pilots in Telangana and Karnataka as they serve as a proof-of-concept for large-scale government contracts. The synergy between the company's EV and digital subsidiaries provides a unique competitive edge in the emerging smart mobility sector.
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Aion-Tech Solutions Signs Strategic MoU with Theoremus AD for Smart Mobility Solutions
Aion-Tech Solutions has entered into a 12-month strategic Memorandum of Understanding (MoU) with Bulgarian firm Theoremus AD to develop advanced multimodal mobility and EV intelligence solutions. The collaboration aims to integrate metro, bus, and EV fleets into a unified operational layer using AI and data orchestration. Initial pilot projects are scheduled to be deployed in the states of Telangana and Karnataka. This partnership positions the company to address urban congestion and pollution through technology-driven infrastructure in India.
Key Highlights
Strategic collaboration with Theoremus AD to deploy AI-powered multimodal transport orchestration platforms.
Initial pilot deployments targeted for major urban centers in Telangana and Karnataka.
Integration of metro, bus, EV fleets, parking, and IoT devices into a unified operational ecosystem.
The MoU is valid for a period of 12 months starting from December 22, 2025.
💼 Action for Investors
Investors should monitor the successful execution of the pilot projects in Telangana and Karnataka as a proof of concept. While the MoU is a positive step into the smart city and EV intelligence space, revenue impact will depend on the conversion of these pilots into commercial contracts.